Claims
Four in 10 surveyed insurance and reinsurance executives ranked cyber attacks as the most threatening emerging risk to the industry in 2015, note findings of new survey released Wednesday by Guy Carpenter & Company LLC. Respondents for the company’s third annual survey – 111 insurance and reinsurance professionals were polled at the 2014 PCI Annual […]
By Canadian Underwriter | November 12, 2014
2 min read
HONOLULU – Lava has been slowly snaking its way toward rural Hawaii communities for months, but it took an oozing stream of molten rock just 45 minutes to burn down an empty house. Firefighters standing by to tackle any spreading wildfires let the flames consume the 1,100-square-foot (100-sq. meter) structure Monday afternoon as a relative […]
By Canadian Underwriter | November 11, 2014
The Construction Services Group of Aon Risk Solutions has launched a new Construction Risk Portal, a web-based tool to help clients navigate risks when working across multiple geographies. The portal includes a Construction Risk Map,”a searchable reference library focusing on the macroeconomic view of the construction risk climate across the U.S.,” according to Aon. The map outlines […]
The Government of Alberta has declared 2014 an agricultural economic hardship as a result of extreme weather. Verlyn Olson, Alberta’s minister of agriculture and rural development, presented an Order in Council that was approved by Cabinet. The order declared that “the agricultural economic hardship resulting from extreme weather conditions with early snowfall and frost damaging […]
3 min read
WINNIPEG – A University of Manitoba biologist says the Selinger government’s water management strategy will mean another major flood next spring. Scott Forbes said on a radio show Monday (CJOB, Charles Adler) that the province’s failure to make full use of a channel to get water out of Lake Manitoba will likely contribute to flooding […]
By The Canadian Press | November 11, 2014
1 min read
WASHINGTON – Global warming is likely playing a bigger role than previously thought in dead zones in oceans, lakes and rivers around the world and it’s only going to get worse, according to a new study. Dead zones occur when fertilizer runoff clogs waterways with nutrients, such as nitrogen and phosphorous. That leads to an […]
By Canadian Underwriter | November 10, 2014
The Oct. 28 explosion of an unmannned supply rocket and the fatal crash three days later of Virgin Galactic’s SpaceshipTwo “will add upward pressure” on aviation insurance rates, A.M. Best Company Inc. predicts. “The Virgin Galactic SpaceShipTwo loss and Antares rocket explosion should support upward rate momentum through the busy November/December renewal season,” stated Oldwick, […]
L’AQUILA, Italy – An appeals court is deliberating the fate of seven experts who were found guilty of failing to adequately warn residents of the risk before an earthquake struck central Italy in 2009, killing more than 300 people. The guilty verdict and six-year jail sentences handed down two years ago sent shock waves through […]
Allianz Group has reported a 5.2% increase in its operating profit, to 2.65 billion euros in the third quarter of this year, over the same period of 2013. The company’s quarterly net income attributable to shareholders also rose 11.2% to 1.61 billion euros, while its total revenues jumped 14.5% to 28.78 billion euros year over […]
By Canadian Underwriter | November 7, 2014
Swiss Re Ltd. announced Friday its third quarter premiums and fee income increased 11%, its casualty combined ratio improved by 19.2 points and that its board is recommending, for election as a director, a former executive from the Montreal firm that controls Canada Life Assurance Company and Great-West Life Assurance Company. For the third quarter […]
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